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Old 09-14-2011, 01:37 AM
piscivorous piscivorous is offline
 
Join Date: Oct 2006
Posts: 2,593
Default Re: God Bless America (John McWhorter & Glenn Loury)

Of course you know the 1997 Mr Krugman will be voting for Governor Perry on the SS issue while the
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I like Freeman's idea of providing each individual with a trust fund when young rather than retirement benefits when old, but we had better realize that this is a significant change in the character of the social insurance system. Social Security is structured from the point of view of the recipients as if it were an ordinary retirement plan: what you get out depends on what you put in. So it does not look like a redistributionist scheme. In practice it has turned out to be strongly redistributionist, but only because of its Ponzi game aspect, in which each generation takes more out than it put in. Well, the Ponzi game will soon be over, thanks to changing demographics, so that the typical recipient henceforth will get only about as much as he or she put in (and today's young may well get less than they put in)
But then I guess everyone is allowed to change his mind
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What’s really going on here? Conservatives hate Social Security for ideological reasons: its success undermines their claim that government is always the problem, never the solution. But they receive crucial support from Washington insiders, for whom a declared willingness to cut Social Security has long served as a badge of fiscal seriousness, never mind the arithmetic.
From hater to lover in 13 years!

Last edited by piscivorous; 09-14-2011 at 01:40 AM..
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